Ft. Lauderdale Waterfront Condos
Searching for Waterfront
Condos in Ft. Lauderdale, wondering what's
available, and interested in what the recent market is like for Ft.
Lauderdale Waterfront Condos?
Here in Ft. Lauderdale, there are 4
types of Waterfront Condos that are usually of the most interest to
Buyers. These 4 types of Waterfront Condos are:
- Intracoastal
Front Condos
- Oceanfront
Condos
- Canal Front
Condos with Ocean Access (Canal Widths vary)
- New River
Front Condos in downtown Ft. Lauderdale
Waterways are arranged
such that
Ocean Access Canals lead to the Intracoastal Waterway, which leads to
the Atlantic Ocean. The New River leads directly to
the
Ocean.
Within
the 4 categories above, there are a number of variations in regard to a
building's specific Waterfront position.
- Some
Buildings are direct Intracoastal front buildings
(located
directly in front of the Intracoastal Waterway). Others are
not
direct Intracoastal front buildings, but offer significant Intracoastal
views for many of the units.
- Some
Buildings are direct Oceanfront Buildings/located "on
the
Sand" (on the Beach side of the Street). Others are not
direct
Oceanfront Buildings and are located across the street from the Ocean,
but offer unobstructed Oceanfront views in a number of the units.
- Some Buildings
are located in a manner that offers
a
COMBINATION of view types from various units. It is possible
to
own a Unit that offers both River and Ocean views or one that offers
both Intracoastal and Ocean views or one that offers both Canal and
Intracoastal views, etc.
Prices
vary SIGNIFICANTLY for
Ft. Lauderdale Waterfront Condos.
Currently, the highest
priced Waterfront Condo is a Penthouse located in the Ritz
Carlton Ft. Lauderdale.
It's listed for Sale at $15,000,000, includes the entire 24th
and
25th Floors of the Ritz Carlton in 10,000 square feet of living area,
and offers both Ocean and Intracoastal views. Penthouse
Owners
enjoy private membership to the St. Regis Astor Club located onsite and
benefit from many other luxury amenities. The Ft.
Lauderdale Ritz Carlton
is located directly across the street from the Ocean and Ft. Lauderdale
Beach. The next highest priced listing is a $10,000,000
Tri-level
Las
Olas Riverhouse Penthouse.
The lowest priced
Waterfront Ocean Access Condo is listed for $109,000.
It's a Studio Apartment located in Rio
Nuevo Condo, which is close to Ft. Lauderdale.
Rio
Nuevo
is a Waterfront Ocean Access Community which offers a Community Dock
for the use of its' Residents. Now, $109,000 doesn't buy a
luxury
unit, luxury amenities, or surroundings, but it does buy a
Unit in
an Ocean Access community.
There
are various factors that affect the price of a Waterfront Condo.
These factors include, but aren't limited, to:
- A
Building's type of Waterfront location
- City
location
- Availability
of Dockage (Docks available or not available, private docks available
for some units, or a Community Dock available for all)
- A unit's
type of view within the building (the best waterfront views are offered
at premium prices). Corner units and those with unobstructed waterfront
views are a hot commodity
- A unit's
Floor location (higher
Floors with Waterfront views typically offer the best and most sought
after views, so are usually priced higher than units located on lower
Floors)
- A unit's
size and layout
- A unit's
condition (New, remodeled, or not
remodeled. If remodeled or new, is it basic or high end?)
- Age of the
Building
- Building's Common
Areas (Are the Lobby, Hallways,
and other Common areas high end or basic?)
- Type
of Amenities offered (i.e. Gated Community, Restaurant, 24/7 Valet,
Concierge, Bar, Swimming Pool(s), Hot Tub(s), Hair Salon, Tanning
Salon, Nail Salon, Fitness Facility, Spa, Key Operated Elevators,
Library,
Conference Room, Business Center, Garage Parking, on-Site Management,
Security, Private Elevator to your Unit, Full-service Staff, Tennis,
Indoor Basketball Court, Media Room, Wine Room, Cigar
Room, Pest
Control, Putting Green, Cabanas, Storage Facilities, Vehicle
Washing, Social Activities, etc.)
- Type of
Windows in the Unit
(i.e. Full length windows that offer better views, Hurricane Impact
Windows that withstand Winds up to 200 MPH and negate the necessity for
Hurricane Shutters)
- Age of the
Building
Factors
that can affect the amount
that you will pay for your monthly or quarterly Maintenance Fee
include, but aren't limited to:
- The type of
Amenities offered (see #10 above)
- The
building's type of waterfront location
- Contribution
to the Building's Reserves
- The types
of Maintenance offered (i.e. Maintenance of Pool,
Lawn,
Parking area, Roof, Elevators, and Building exterior, interior, and
common areas, Trash Removal, Sewer, and Pest Control) etc.)
- The price
of Property Insurance
- The number
of on-site building staff
- Utilities
that could be included such as Cable
Service, Electricity, or Water
- The size of
your unit (typically, the Fee is priced per
square foot and larger units pay more than smaller units)
DRUMROLL.....
What are Waterfront Condos actually selling for (purchase price) and
are people buying them?
Yes, there have been
recent Buyers of Ft.
Lauderdale Waterfront Condos. In 2008,
the highest FINAL PURCHASE PRICE (not list price) of a Waterfront Condo in Ft. Lauderdale
(and all of Broward County) so far has been $4,000,000 for a unit in The
Palms, a
direct Oceanfront Building located directly "on the Sand".
The lowest purchase
price so far has been $124,000 for a unit in River Reach Condo
in Ft. Lauderdale. According to MLS Records, there have been
484
Waterfront, Ocean Access Condos sold to date in 2008 in Ft. Lauderdale
only. Elsewhere in Broward County, 919 Waterfront Ocean Access Condos
have been sold in 2008. Waterfront Condos are sold within a
VERY
wide price range.
What
is the current Waterfront Condo inventory?
To date, there are
currently 1,341
Waterfront Ocean Access Condos in Ft. Lauderdale listed for sale
through Brokers. Elsewhere in Broward County, there are 2,689
Waterfront Ocean Access Condos listed for Sale. That equals
a
total of 4,030 Waterfront Ocean Access Condos for Sale in ALL
of
Broward County.
TOTAL Inventory of
Broward Condos for sale = 15,085, so Broward
Waterfront Condos represent ~ 9% of the total Condo inventory and
are the smallest portion of overall Condo inventory
available.
Factors
that you
must consider when starting your Condo
search include:
- Maximum
price you're willing to pay
- City
location
- Number of
Bedrooms and Baths
- Unit size
- Your Age
(there are Buildings that require at least one of
the unit's Residents to be age 55+)
- Type of
Floorplan (Split Floorplan, Open Floorplan, etc.)
- Interior or
exterior Hallways
- Building
Age (are you comfortable with buildings of all
ages?)
- Do you
require Amenities? If so, what type? (see
#10 above)
- Maximum
amount you're willing to pay for the Maintenance
Fee
- Do you
prefer High rise buildings (like higher than 10
Floors) or low rise buildings (less than 10 Floors)?
- Would you
like your unit to be located on a high floor or a
low floor?
- Remodeled
unit or not remodeled
- Type of
Waterfront view from the unit
- Corner unit
only or no preference
- Washer and
Dryer in the Unit (Some Buildings only offer
Laundry
Rooms and do not allow the installation of Washers and Dryers in
individual units)
- Pets
allowed? What size Pets? Both Cats and Dogs?
(There
are buildings that do not allow Pets or restrict their size and type)
- Leasing
allowed? (Some Buildings do not allow Owners to
Lease their Units)
- Do you
require Garage Parking or is uncovered parking
acceptable?
- Future
Retail Value. If you're
interested in Selling your Condo at some point in the future, there are
several items prospective Buyers will be considering when determining
if your Unit is one that they want to purchase. Many Buyers'
preferences include having more than 1 Bathroom and having clear
Waterfront views from the Unit. Consider the
restrictions
that are in place by the Association. If Pets are not allowed
and
if Leasing is not allowed, you've now eliminated all Buyers who have
Pets and all who might be interested in the possibility of Leasing
their Unit at some point. When
selling, you want to reach the widest pool of qualified and interested
Buyers. Think beyond your own needs and preferences when
purchasing.
Aside from Ft.
Lauderdale Waterfront Condos,
there are several other South Florida areas that are very
popular
spots for Waterfront Condos. Included for Broward County are
Waterfront Condos in Lauderdale by the Sea, Pompano Beach, Hillsboro
Beach, Deerfield Beach, Hollywood, and Hallandale. For
Miami-Dade
County, the most sought after areas for Waterfront Condos are Miami
Beach and South Beach, Aventura, and Sunny Isles. Palm Beach Waterfront Condos
are very popular as well and units are available in a number of Palm
Beach Cities including Highland Beach, Boca Raton, Palm Beach, Delray
Beach, Hypoluxo, Lantana, Riviera Beach, and Singer Island.
When I started out
writing this post
for my Blog, I thought it would be fairly short. I really
just
wanted to "put pen to paper", so to speak, to share
with you
the information that I present to Waterfront Condo Buyers, such as
yourself, whom I work with. So, this ended up being much
longer
than I thought, but it highlights the most relevant facts pertaining to
Condo purchases, particularly Waterfront, and I trust that you have
found it to be beneficial to you in your Condo search.
If you would like
assistance with
buying or selling a Condo, or would like specific information
regarding closed sales in certain Buildings or Cities, feel free to
call or e-mail me.
-------------------------
Vickie
Arcuri, Realtor®
EWM Realtors
1700 E. Las Olas Blvd., Suite 103
Ft. Lauderdale, FL 33301
Cell: (954) 708-9309
vickie@vickierealestate.com
Fort Lauderdale
Homes for Sale
Contact me if
you're interested in Ft.
Lauderdale Real Estate for Sale, Broward
County Real Estate for sale, Ft.
Lauderdale Beach Homes for Sale, Ft.
Lauderdale Waterfront Condos for Sale,
Homes
for Sale near Ft. Lauderdale Beach, Broward
Luxury Homes for sale, Broward Waterfront
Homes for sale, Ft.
Lauderdale Luxury Homes for Sale, Ft.
Lauderdale Luxury Real Estate for Sale, Palm
Beach Waterfront Condos, Ft.
Lauderdale Docks for Sale, Ft. Lauderdale Oceanfront Condos, Ft.
Lauderdale Waterfront Homes for Sale, or Ft.
Lauderdale Waterfront Foreclosures. I
am available to assist you or someone you know with:
- Home
Purchases and Home Sales
- Home
Rentals
- Refinancing
resources
- Ft.
Lauderdale Luxury Real Estate Services
- Corporate
Relocation & Home Purchases
or Rentals in South Florida
- Florida
Professional Athlete Relocation
& Home Purchases or Rentals
- Relocation
home purchases locally or if you
are purchasing outside of Florida or outside of our local area in
Florida, I can refer you to an Agent to assist you with your home
purchase in the area where you're moving, including International areas
- Investment
property
purchases
------------------
Listings
of Interest:
Rio
Vista Home for Sale
Las Olas Riverhouse Condo for
Sale
Palm Beach Waterfront Condo for
Sale
Ft.
Lauderdale Waterfront Home with a Dock
